Spain: Companies will triple Big Data experts hires in the next 3 years

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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The ESADE report analyzes the state of analytical transformation in companies, based on surveys and interviews with a sample of 106 companies from different sectors. In this sense, it stands out that after about seven years since the advent of big data and advanced analytics (BDAA), 55% of the companies participating in the study believe that they still do not have a culture of decision-making based on data, while 40% acknowledge that they do not have a specific leadership role in this area, or have it for less than a year. Only a minority, around 25%, recognizes having a consolidated leadership in the sector, with three or more years of seniority. The study has been prepared by the new Institute for Data-Driven Decisions of ESADE and by The ESADE MBA.

“It is important to note that the more analytical a company’s culture is, the more success and return it gets in its projects,” said Professor Manu Carricano, director of ESADE’s Institute for Data-Driven Decisions. In this sense, the report reveals that 78% of companies that define their culture as highly analytical, consider “high or very high” the impact of their projects in BDAA.

On the other hand, within the profiles of BDAA professionals, two fundamentally stand out: the data scientists, in charge of performing advanced analysis, and the data managers, responsible for providing business vision to guide and lead the analysis of data scientists, and to extract recommendations for decision making. The companies surveyed have teams of between 5 and 20 people, depending on whether they are small and medium (up to 200 million euros in annual turnover) or large.

In this line, companies consider that this type of talent “is still scarce” in our country and most of them consider it very or very difficult to find these profiles. They score with an average of 7.7 the difficulty of finding data scientists and with 7.6 that of data managers (being 1 very easy and 10, very difficult). The report also determines that companies expect to increase significantly the number of analytical profiles, multiplying data scientists by 3 and data managers by 2.5 in the next three years.

Big data and improvement of the relationship with the client

Asked about the vision and the contributions that they expect from BDAA, the companies surveyed link big data and advanced analytics, mainly, with the improvement of the relationship with the client. This is the case of 68% of the companies surveyed, and it is a transversal vision in all sectors. The participating companies also agree that other relevant factors to incorporate BDAA are the reduction of costs and the optimization of processes, as well as the improvement and innovation in products and services.

Also, despite the recognized impact and transversality of the benefits of data management, companies say they face some problems when it comes to making tangible the business results of the projects. Of particular note are two factors, which are shared by about 60% of companies: the difficulty in obtaining data or guaranteeing their quality, and the lack of an analytical culture rooted in the company, which facilitates the understanding of analytical models. In addition, integrating new models, tools and processes with existing ones, as well as ensuring their integrity and minimizing operational risks are other barriers that stand out. However, this last barrier loses relevance and is reduced to 19% in companies whose BDAA units were created at least three years ago.

A new institute to promote decision-making based on data

The presentation of this report took place at the first annual Data + Decisions conference, which has served to present the new Institute for Data-Driven Decisions of ESADE, a center designed to encourage executives and business leaders to improve their chances of success. your businesses based on data-driven decision making.

The conference brought together leading speakers and businessmen to discuss the latest developments in data-driven decisions in the business world, including Dan Goldstein, principal investigator at Microsoft; Michael Feindt, founder and chief scientific advisor of Blue Yonder, inventor of #NeuroBayes at CERN; Richard Benjamins, ambassador of Data and Artificial Intelligence of Telefónica; Raúl Cruces, global senior data manager of Banco Santander; Marta Baches, responsible for Instant Ink of HP Printing; Clara Palau, responsible for Technology of the UNICEF Innovation Unit; Albert Mercadal, director of Big Data & Analytics of Fujitsu for EMEIA, or report directors Luis Vives, associate dean of ESADE’s Full-Time MBA, and Manu Carricano, director of ESADE’s Institute for Data-Driven Decisions.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.